I realize this is less of an investing question and more of a general economic question. I also realize there is not much point in living in fear. I am just curious as to the general consensus about this book and th...

are u still waiting for the technician to arrive?  

The market crash that occurred here in the US would not happen in Canada, mainly because of the strict rules imposed on lenders when qualifying potential buyers.

If you are living off that cash flow, finally out of the rat race, where will the funds come from as well to take advantage of the next crash?  

Of course, if the market crashes next month, you'll look smart.

I've been seeking something local in a good area that can provide 10+% COC after using conservative estimates to arrive at the cash flow.

@Bradley Pietrzak, there are hundreds of previous threads with the word "Turnkey" in the title, usually asking a similar question as to what you have asked, to which there have been thousands of responses - all personal opinions.The short answer is: Yes, you can force passive income.So long as you understand that during SOME months, that income will be negative.Similar to passive stock market income you could alternatively invest in. (...CRASH...)Buy your properties, have your Property Manager/s and Legal team in place to deal with ALL the ongoing issues, and you just sit back and check your balance each month.

Had my RE license many years ago and gave it up when the market crashed.

We won’t have a crash like we did in previous years, there has been too much “skin in the game”over the past 4-5 year run up, but lenders are heading back to pre crash standards and something has to be done about the conglomerate GSEs known as Freddie and Fannie.

That is a reason I've been hesitant, as well, because I don't know where it might go again in Vegas and I'd hate to buy now when the market might crash again, but if I wait long, then interest rates might rise and then I'm out of luck even more!